| Schedule of Weighted-Average Number of Shares Outstanding |
The following table summarizes the basic and diluted earnings per share for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | (In thousands, except per share data) | | Net income (loss) | $ | 525,186 | | | $ | (389,905) | | | $ | 633,794 | | | $ | (170,068) | | | Distributed and undistributed earnings allocated to participating securities | (4,243) | | | 2,312 | | | (4,432) | | | 1,425 | | | Net income (loss) attributable to common stockholders (basic) | 520,943 | | | (387,593) | | | 629,362 | | | (168,643) | | | Reallocation of distributed and undistributed earnings allocated to participating securities | 4,243 | | | (3,604) | | | 4,432 | | | (2,687) | | | Net income (loss) attributable to common stockholders (diluted) | $ | 525,186 | | | $ | (391,197) | | | $ | 633,794 | | | $ | (171,330) | | | | | | | | | | | Weighted average common shares outstanding: | | | | | | | | | Basic weighted average common shares outstanding | 56,010 | | | 57,786 | | 56,361 | | | 58,420 | | Dilutive effect of share-based awards | 595 | | | — | | | 548 | | | 81 | | | | | | | | | | | Diluted weighted average common shares outstanding | 56,605 | | | 57,786 | | | 56,909 | | | 58,501 | | | | | | | | | | | Basic earnings (loss) per share | $ | 9.30 | | | $ | (6.71) | | | $ | 11.17 | | | $ | (2.89) | | | Diluted earnings (loss) per share | $ | 9.28 | | | $ | (6.77) | | | $ | 11.14 | | | $ | (2.93) | | | | | | | | | | | Anti-dilutive weighted average common shares: | | | | | | | | | Potential common shares | 160 | | | 1,067 | | | 182 | | | 980 | |
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